Monday, September 17, 2007
The oracle speaks
Posted by David Smith at 09:00 AM
Category: Thoughts and responses

Alan Greenspan used to say that if anybody believed they'd understood what he'd said, they must have misunderstood him. I think he's maintained the tradition in retirement. Is he warning that UK house prices will fall and that Bank rate will need to rise into double figures to keep inflation under control? That's what the Daily Telegraph's story says. But it is worth reading the transcript of the Greenspan interview - where you'll see you have to read a lot between the lines to get to that conclusion.